Baillie Gifford & Co. Sells 5,107 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Baillie Gifford & Co. reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 388,194 shares of the asset manager's stock after selling 5,107 shares during the quarter. Baillie Gifford & Co. owned about 0.17% of T. Rowe Price Group worth $42,286,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Iron Horse Wealth Management LLC boosted its holdings in T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock worth $25,000 after buying an additional 110 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $29,000. Hexagon Capital Partners LLC boosted its stake in shares of T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock worth $32,000 after acquiring an additional 104 shares in the last quarter. Family Firm Inc. acquired a new position in shares of T. Rowe Price Group in the 2nd quarter worth $36,000. Finally, Versant Capital Management Inc raised its position in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager's stock worth $38,000 after purchasing an additional 284 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Up 0.4 %

TROW stock traded up $0.42 during mid-day trading on Wednesday, hitting $118.49. The stock had a trading volume of 1,097,721 shares, compared to its average volume of 1,261,537. T. Rowe Price Group, Inc. has a 1-year low of $94.47 and a 1-year high of $122.27. The company has a fifty day moving average of $109.83 and a 200 day moving average of $112.02. The stock has a market capitalization of $26.32 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.72 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm's revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.17 earnings per share. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group's payout ratio is presently 54.27%.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the firm's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating for the company in a research report on Monday, November 4th. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. The Goldman Sachs Group cut their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating on the stock in a research note on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a research report on Monday. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Hold" and a consensus price target of $115.55.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.